Get Answers to Your Questions

Here are our most frequently asked questions with answers.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £100 for 30 days. One total repayment of £124.00. Interest: £24.00. Interest rate: 292% pa (fixed). 1270% APR Representative.

Application and General Questions

Repayment and Account Info

QuickQuid FlexCredit®

To be eligible to apply, you must:

  1. Have a valid UK bank account.
  2. Be employed.
  3. Be a resident of the UK.
  4. Be at least 18 years old.

When applying you'll also need to provide us with the following information:

  1. Employment details.
  2. Bank account details.
  3. Income and outgoings/expenses.
  4. Other Personal Information.
Yes. Less-than-perfect credit does not necessarily prevent you from qualifying for a QuickQuid loan. We understand that a credit score may take time to repair, even when you have been working diligently to erase past credit mistakes. That is why we use a variety of criteria to evaluate each customer, including their credit score and recent borrowing history. If you’ve had trouble with credit in the past but have worked diligently to improve your score, we may be able to approve you for a loan.
In most cases, we will be able to make a loan decision without additional paperwork. However, there are some instances where we may need some additional information regarding your income and employment. In this case, we will request you send the required documents so that our Loan Processing team can review them manually.
For some applicants, we may need to verify income. To help process your loan, we need a recent wage slip or equivalent income statement dated within the last 30 days. You can email or send a picture of this information.

You can check the status of your application online:

  1. Log-in to your account home page.
  2. At the top of your account home page you'll see information on the status of your current loan application.
You may only be eligible for certain repayment period options given your pay frequency, time of application and our requirement that loan durations be no less than 27 days. Depending on your pay frequency and time of application, you may not be eligible for a 1-period loan. Please note that your repayment dates will always be set to the dates on which you receive your paycheque.
There are a number of factors QuickQuid uses to evaluate your application, including but not limited to: an applicant’s past borrowing history, credit report, identity verification, number of outstanding loans, income and existing financial commitments, as well as the validation of application details. If an applicant does not meet all or some of QuickQuid’s lending criteria for each of the above items, QuickQuid may decide not to approve their application. If your financial circumstances change, you may reapply again in the future. Please keep in mind that each application is recorded on your credit file; too many applications over a short period of time may be seen as a red flag.
In most cases, your application will be processed within 30 minutes from the time it has been received. Loan approval depends on satisfactory completion of identity, credit and affordability checks. If approved, funds will be sent to your bank account within 10 minutes of approval.§ If your bank does not support Faster Payments, funds will be deposited the same day, as long as your loan is approved by 14:30 on that day. Once you have completed a loan application, QuickQuid will send you updates via email.

Short-term loans should be used for short-term financial needs only, and not as long-term financial solution. As a responsible lender, we do not encourage thefrequent use of our service. If you're having recurrent financial problems, please see our “Where can I get financial advice?” question. Generally, the earliest you may apply for a new loan depends on your previous loan's repayment method and is subject to affordability checks in accordance with QuickQuid’s responsible lending policy. Read on to learn more about the different payment types.

  • Continuous Payment Authority (CPA): If you pay by debit card, your payment will clear the bank in seconds and you may be able to apply for a new loan immediately.
  • Direct Debit Authorisation (DDA): If you pay by an electronic cheque, it will normally take two working days for your payment to clear the bank. Once the payment clears, you may be able to apply for a new loan.

Example: Your repayment date is Friday and your full payment comes out of your account on that day. If the loan was repaid via debit card, you may be able to apply for another loan on Friday. If the loan was repaid via Direct Debit, you must wait until Wednesday before you are able to apply for another loan.

QuickQuid has a policy of one loan per customer.

There are three repayment options you may be eligible for:

  • 1-Period Loan: On your 1st and only payment date, you will owe your total balance (the loan amount plus accrued interest).
  • 2-Period Loan: This option allows you to repay your loan over 2 periods. On your 1st repayment date, you will pay the interest that has accrued to date. On your 2nd repayment date, you will repay the loan amount you borrowed, plus the interest that has accrued between your 1st and 2nd repayment dates.
  • 3-Period Loan: This option allows you to repay your loan over 3 periods. On your 1st repayment date, you will pay the interest that has accrued to date. On your 2nd repayment date, you will pay the interest that accrued between your 1st and 2nd repayment dates. On your 3rd repayment date, you will repay the loan amount you borrowed, plus the interest that has accrued between your 2nd and 3rd repayment dates. We will always send a reminder email at least 3 days prior to each payment date. If you have questions about your repayment options, please contact our Customer Service Team. Your repayment dates will always be set to your pay dates. You may not be eligible to apply for each period option given your pay date frequency and our minimum 27 day loan term restriction.

We will always send a reminder email at least 3 days before each payment date.

Your repayment dates will always be set to your pay dates. You may not be eligible to apply for each period option given your pay date frequency and our requirement that loan durations be no less than 27 days.

If you have questions about your repayment options, please contact our Customer Service Team.

Please note: Before taking out a loan, you should ensure you will be able to make your payments out of your normal disposable income. If you are approved for a multi-period loan, be aware that your final payment will be larger than your previous payment(s); you may need to save disposable income from a prior month in order to make the final repayment successfully.

New customers may qualify for a loan of up to £1,000. After successful repayment of your first loan, you may qualify for loan amounts up to £1,500.

APR stands for Annual Percentage Rate and represents the cost of a loan over an entire year. APR can be helpful in comparing two similar loans from separate lenders because it will allow you to determine the relative cost of each loan. While the APR may be a helpful tool for comparing loans, the total cost of credit is also a valuable tool, as it will tell you exactly how much the loan will cost. See our Rates & Terms page for more information on the APR and total cost of our loan products.

Yes, by law you have the right to withdraw from your loan agreement within 14 days of signing your agreement. If you withdraw from the loan, you must return any money we have provided to you, plus accrued interest. You can withdraw from your loan by calling us on 0800 056 1515, or by emailing us at support@quickquid.co.uk.
Yes. If your application is approved on a weekend, your funds will typically be sent to your bank within 10 minutes after approval.§ If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you're approved by 14:30.
You can repay a QuickQuid loan over the course of 1, 2 or 3 repayment dates. Your repayment dates will always be based on the dates you get paid. You may not be eligible to choose from all three repayment options given your pay date frequency and our requirement that loan durations be no less than 27 days. You will have a chance to review all repayment dates before signing your loan contract.

QuickQuid charges a daily interest rate of 0.80% on your outstanding principal per day.

For example: Your next paydate is in 30 days. You decide to take out a 1-period loan for £100.00. You will be charged 0.8% interest for a 30-day loan term which results in £24.00 in interest. In total, you will repay £124.00 (interest + principle) on your repayment date. The total amount of interest charged on your loan depends on the number of repayment periods for your loan. For more information, visit our Rates & Terms page (link to Rates and Terms).

Yes. We run credit-application checks with credit reference agencies to verify your application information and to help us determine whether your application will be approved or declined. Credit checks also help us determine the amount of your loan offer, if approved.

Important Notice: When we run a credit-application check, it will leave a footprint on your credit report. Footprints themselves are not negative, but if a credit report shows that many searches have been done in a short period of time, it could be seen by lenders or others as a sign of identity fraud or great financial need.

Short-term loans are designed to help you bridge the gap between paydays so that you can take care of any unexpected expenses. If you need a quick cash advance to cover unexpected expenses, a QuickQuid short-term loan may be an option for you. However, you should not take out a short-term loan if you don't think you can pay it back on time, or if you are in need of a long-term financial solution.
QuickQuid's short-term loans are repaid in 1, 2 or 3 repayment periods and are designed to help bridge the gap between paydays. The last payment includes the principal borrowed and is larger than previous payments. Personal “instalment” loans are loans in which there are a set number of scheduled payments over time. Each payment is equal, with some percentage of each payment going toward the principle of the loan.

Those looking for financial advice can try the following free services:

  • The Debt Counsellor’s Charitable Trust: A registered charity that offers free, confidential, impartial advice to English and Welsh consumers in financial difficulty. Their helpline is available Monday – Friday, 9 a.m. – 5 p.m. They are closed Saturday – Sunday. Call 0300 456 2726 or visit www.thedebtcounsellors.org.uk.
  • National Debtline: A national telephone helpline for people with debt problems in England, Wales and Scotland. Their service is free, confidential and independent. Their helpline is available Monday – Friday, 9 a.m. – 9 p.m., and Saturday, 9:30 a.m. – 1:00 p.m. They are closed Sunday. Call 0808 808 4000 or visit www.nationaldebtline.co.uk.
  • Money Advice Service: Independent service set up by the government to help people make the most of their money. They give free, unbiased money advice. Their hotline is available Monday – Friday, 8:00 a.m. – 8:00 p.m., and Saturday, 9:00 a.m. – 1:00 p.m. For English, call 0300 500 5000. For Welsh, call 0300 500 5555. Or, you can visit www.moneyadviceservice.org.uk.

QuickQuid takes the protection of our customers’ information seriously. We employ a number of technologies to protect your information, including VeriSign and McAfee, among others. To protect yourself against potential scammers who might present themselves as QuickQuid or another lender, remember you should:

  • Never make any payments over the phone unless the details of your original loan can be confirmed.
  • Never provide personal information in response to an unsolicited email or call.
  • Never respond to suspicious emails that request personal information.
  • Check your account regularly for suspicious activity.
We are aware that certain individuals are presenting themselves as QuickQuid to approach consumers. These individuals do not represent QuickQuid in any way. QuickQuid is registered with the Financial Conduct Authority (FCA) and never asks for or charges any upfront fees or payments. If you feel suspicious about a firm or individual presenting themselves as QuickQuid or another lender, contact the FCA Consumer Helpline on 0800 111 6768 immediately. You can also contact us seven days a week on 0800 056 1515, over live chat or via email at support@quickquid.co.uk.

You may report complaints in reference to QuickQuid loan products, policies or services via email at complaint@quickquid.co.uk or via phone at 0800 016 3114 (call free from landlines; mobile phone companies may charge up to 40p per minute). Here’s how we process complaints:

  1. Upon receipt of your complaint, QuickQuid will assign an issue number, review the report, and do our best to resolve the problem via email response by the end of the next business day. If we can't do this, we will send you a prompt written or electronic acknowledgement with information on who is dealing with your complaint. If you are not satisfied with our response, you may appeal the decision via email at complaint@quickquid.co.uk. We ask that you please state your objection(s) to the previous decision and include any new evidence to be considered.
  2. We will negotiate with you and send you our full response within eight weeks of receiving your complaint. Our letter will explain that you will have ultimate recourse to the Financial Ombudsman Service if you remain dissatisfied.
  3. If you are dissatisfied with our final response, you can ask the Financial Ombudsman Service for an independent review. We will enclose a leaflet (or provide you with a link to the leaflet) from the Financial Ombudsman Service in our final response letter to assist you if you decide to pursue this course of action.

If you wish to contact the Financial Ombudsman Service, you should do so within six months of receiving our final response.

Contact Details:
Financial Ombudsman Service (FOS)
South Quay Plaza
183 Marsh Wall
London E14 9SR
Tel: 0845 080 1800
Email: complaint.info@financial-ombudsman.org.uk

QuickQuid charges 0.8% daily interest on loans. Generally, discount codes reduce this daily interest rate by a certain percentage for the duration of the loan.

For Example: You apply for a 30-day, £100 loan and are approved. You use a discount code for 10% off interest. Your daily interest then decreases by 10%, from 0.8% to 0.72%. This results in savings of £2.40 on total interest accrued on this loan.

Note: There may be other conditions and/or restrictions that apply to other promo or discount codes that we offer.

You can sign up for discount and promotional communications by logging in to your account and updating your settings under “Contact Preferences.” You can choose to receive discounts by email, SMS and/or post.

To unsubscribe from promotional discounts, log in to your account and update your “Contact Preferences.”